Property Market
5 min read
What's happening with Invercargill house prices?
Council area of Southland
Author: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator with six years of experience, holds a Bachelor of Communication (Honours) from Massey University.
What's happening to Invercargill house prices?
The average price of an Invercargill property is $ (CoreLogic, February 2025).
Quick Facts
- The average price of an Invercargill property is $ (CoreLogic, February 2025)
- Over the last 3 months property prices in Invercargill have gone up 0.35%
- Invercargill property prices increased 6.53% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
- The average rent in Invercargill is $470 per week (Tenancy Services, November 2024)
How are Invercargill property prices changing?
Invercargill house prices soared after the Covid-19 pandemic began. House prices started out 28% below the eventual peak of the market.
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Where is Invercargill in its property cycle?
At the absolute bottom of its property cycle, Invercargill was 26.53% undervalued.
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Invercargill suburb prices
I track the value of 24 suburbs in Invercargill. The most expensive suburb is Otatara, which has an average house value of $740,750. While the most affordable suburb is Appleby, which has an average house value of $343,800.
Over the last 24 months of all Invercargill suburbs (February 2023 - February 2025, Bluff had the fastest-growing house prices. They have gone up 9.62% over that period.
The suburb that fell the fastest over that period was Hargest. Property values in this suburb fell by 2.13% over those 2 years.
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What is the Invercargill rental market like?
Here's how rents are changing in Invercargill. Over the last four years (November 2020 - November 2024) the median rent has gone up $120 a week. That's 7.65% a year (on average).
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Are properties selling above or below CV in Invercargill?
One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”
Where do house prices grow the fastest in the Invercargill property market?
Where do house prices go up the fastest in Invercargill?
Which suburbs in the Invercargill property market have the highest yields?
Gross yields vary widely depending on which suburb you chose to investigate.
Other property markets to look into
If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Southland property market here.